<p>Is there a difference between the 2? </p>
<p>When applying for internships, they generally require a cover letter while grad schools require a SOP, but they seem to have the same purpose.</p>
<p>The difference is mostly in format and style. Both have a specific format that writers tend to follow, and a different style of writing (overall cover letters tend to be more formal than statements). But you are right in that they have much the same purpose - to try to convince some admissions/hiring committee that you are the ideal choice for the position they are trying to fill.</p>